Supreme Court · 2023 INSC 855 · Decided 25 September 2023
Kotak Mahindra Bank Limited v. Commissioner of Income Tax Bangalore and ANR.
- Court
- Supreme Court of India
- Citation
- 2023 INSC 855 · [2023] 14 S.C.R. 1
- Case number
- CIVIL APPEAL No. 9720/2014
- Decided
- 25 September 2023
- Bench
- B.V. NAGARATHNA, UJJAL BHUYAN (2-judge bench)
- Outcome
- Appeal(s) allowed
- Case type
- Civil
- Acts & sections cited
- Income Tax Act Section 245H
Headnote
HEADNOTES Issue for consideration: Whether the Division Bench of the High Court was right in affi rming the fi ndings of the Single Judge, to the eff ect that the Settlement Commission ought not to have exercised discretion u/s. 245H of the Income Tax Act, immunity to the assessee de hors any material to demonstrate that there was no wilful concealment on the part of the assessee to evade tax and on that ground, remanding the matter to the Commission for fresh consideration. Income Tax Act, 1961 - s. 245H - Power of Settlement
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